Signet Financial Management LLC Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Signet Financial Management LLC lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,671 shares of the basic materials company’s stock after selling 223 shares during the quarter. Signet Financial Management LLC’s holdings in Steel Dynamics were worth $5,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after buying an additional 11,026 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Steel Dynamics in the 4th quarter worth $14,762,000. Barclays PLC increased its holdings in shares of Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after purchasing an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of Steel Dynamics by 13.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares in the last quarter. Finally, Summit Global Investments bought a new stake in shares of Steel Dynamics in the 3rd quarter worth $9,372,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $2.20 on Tuesday, hitting $138.77. 524,658 shares of the company traded hands, compared to its average volume of 1,170,275. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 9.55 and a beta of 1.42. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $135.07 and its 200-day moving average price is $120.70. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. Steel Dynamics’s revenue was down 12.3% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 11.6 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.33%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s payout ratio is presently 12.61%.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday. Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, UBS Group cut their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $120.29.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.